On hindsight, since Mid March onwards, there is a possibility of Bearish 5-0 patterns in the making. It has (almost) reached its final point (point D), where the pattern ends and the trade begins. In this case, a possibility of taking some profit off the table or taking on a bearish view.
My personal opinion is there will be patterns running back to back...as a sequence of actions and reactions. It is possible that a Bearish Butterfly patterns maybe in the making. Thus, point B may be in sight. In this case, there is a possibility of a pullback before going higher.
Putting back into Singapore perspective, on 19 Jun, FSSTI has an inside bar imprinted on the daily chart. Inside bar indicates a time of indecision or consolidation. It is near to the zone of 2825-2840, which was previously identified as a resistance area. Although it ......
